Should I jump in because the rates have surged?
If you’re a home buyer, you may have noticed a spike in mortgage rates this week. It may have you thinking you need to buy sooner than later because rates are going to go up more. After the election’s surprising results, rates did take a slight upturn (from 3.57 percent to 3.94 percent). But, as the Associated Press (AP) reported, don’t get carried away because things will soon settle down. In fact, rates are pretty much where they were this time last year.